Popular Vehicles and Services Limited has informed the Exchange regarding Notice of Postal Ballot
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Popular Vehicles and Services Limited has issued a postal ballot notice seeking shareholder approval for the re-appointment of Mr. John Kuttukaran Paul (DIN: 00016513), a promoter and 73-year-old director, as Whole-Time Director for a 2-year term from 1st April 2026 to 31st March 2028. The proposed remuneration includes a monthly salary of Rs. 8,85,775 with up to 10% annual increment, plus performance incentives linked to consolidated net profit (starting at 1% of net profit between Rs. 20-30 crore and scaling up to 0.667% for profits of Rs. 50 crore and above in multiples of Rs. 5 crore), along with perquisites like furnished accommodation, car, club fees, and gratuity. Since Mr. Paul is over 70, the resolution also seeks approval for remuneration in case of inadequate or no profits, and requires Central Government approval. Remote e-voting runs from 27th February 2026 to 28th March 2026, with the cut-off date for voting eligibility set as 20th February 2026.
This is a routine governance item — re-appointment of a promoter-director with performance-linked pay. Approval is largely expected given promoter control, but shareholders may scrutinize the profit-linked incentive structure and the fact that the company is seeking a waiver for remuneration payment during years of inadequate profits.